[Solution]Why is Government Insurance

Why is Government Insurance Economically Necessary? In a democratic society there is an economic need for the federal government to: Seek expected utility maximization Enhance…

Why is Government Insurance Economically Necessary?
In a democratic society there is an economic need for the federal government to:
Seek expected utility maximization
Enhance state capacities for health insurance coverage
Help generate economic activity in the states
Maximize economic impacts on the U.S. health care system
Support a safety net
U.S. Health Care System and Safety Net
The guarantee of federal financing for Medicaid insurance enables states to respond to:
Aging population
Chaotic economic downturns
Emergencies and disasters
Increases in health care costs

 

Children’s Health Insurance Program
Generation of Economic Activity:
Additional tax revenues are derived from the health care jobs and household incomes generated
Economic impact of Medicaid funds is impacted because of the federal matching dollars
Health care jobs generate household income within the health care sector and throughout other sectors of the local economy due to the multiplier effect
Medicaid insurance funding to health providers supports health care jobs and household incomes
State spending on behalf of Medicaid insured consumers for health care pulls federal tax dollars into local economies

 

Children’s Health Insurance Program
Economic Impact on the Health Care System
Government payments to health providers, on behalf of the Medicaid insured, directly impact health providers by:
Creating household income
Promoting consumer purchases associated with the provision of health care
Supporting health care jobs
State Capacity for Health Insurance Coverage
The magnitude of economic impact from Medicaid insured consumers is dependent on:
Economic conditions of the state economy
Federal funding to the states for Medicaid insurance
Level of state funds available for Medicaid spending on health care

 

Unaffordability of Advanced Medicine
The United States has long prided itself in medical innovations, as the global leader in medical research and health care technology
One in four Americans cannot afford the costs required to meet their medically needed care
Prohibitive costs keep advanced medicine completely out of reach for many members of society, including the:
Low wage earners
Medicaid insured
Underinsured of limited means
Uninsured
This lack of access has been termed a health care crisis

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